2017 Annual Real Estate Report Santa Clara County Pam Blackman Santa Clara County Home Sales Up Slightly, Jump in 2017 for single-family homes and condos/townhomes reached new highs in 2017. The median prices for homes gained 15.2% compared to 2016. This is the largest gain since 2014. The median price for condos/townhomes rose.6% from 2016. (See tables on next page for details.) Home sales, surprisingly, were up last year. Single-family, re-sale home sales rose 3.3% year-over-year. Condo/townhome sales were off 1.5%. The sales price to list price ratios jumped to their highest point ever. The ratio for homes was 6.0%, while it was 5.8% for condos. C.A.R s Analysis for 2016 SFH Resales (000s) SFH Resales % Change Median Price ($000s) Median Price % Change 2017 Forecast 2018 Projected 416.7 413.0 421.9 1.8% -0.9% 1.3% $502.3 $525.6 $538.5 5.4% 4.3% 7.2% How Will the Tax Cut Affect Real Estate? The real estate market will be among the sectors most impacted by the tax bill. The legislation calls for reduced tax rates for individuals with higher standard deductions but institutes caps on mortgage interest deductions and the deduction of state and local taxes. The individual cuts expire in 2025. How it will shake out is still unknown, but many real estate experts have been up in arms about the changes, with the National Association of Realtors (NAR) initially warning that it could lower home prices by up to % in every state. Tax Deductions The new $,000 cap on how much local and state tax can be deducted from federal income taxes will have an outsized impact on the Bay Area. Take couples with enough adjusted gross income to put them in the state s 9.3% category, that s income between $5,258 and $537,499, the state income tax ranges from $9,786 to $49,987. Now, let s get to property taxes. In Santa Clara County, the effective tax rate is about 1.21%. Let s apply that to the median price of homes sold in 2017, which was about $1,200,000. Property taxes on homes that were sold for that amount, or assessed for that amount, equals $14,520. Yeah, the new tax bill will not be friendly to homeowners in the Bay Area, and we haven t even added in sales tax paid. Mortgage Deductions In another blow to future homeowners, the deduction for mortgage interest has been lowered from $1,000,000 to $750,000. Existing mortgages will be grandfathered in. That might give people less incentive to move. Interest on home equity debt is no longer deductible, unless the proceeds are used in a trade or business acquisition or to improve rentals. Home equity debt includes refinances on your primary or secondary residences as well as HELOCs. If the tax bill does result in fewer people moving, inventory will continue to by abysmal. On the other hand, the loss of the tax deduction and the lowering of the mortgage interest deduction will probably curtail demand. At this point, all we can do is keep a watch on the market to see how this all plays out. Although we have gleaned this information from reliable sources, the IRS and CPAs have only had a few weeks to go through the tax bill. They re still trying to figure out all the nuances. Please discuss the new rules with your tax advisor to determine how the changes will impact your personal circumstances. This article may not be relied upon as tax or legal advice. Pam Blackman
Santa Clara County Homes - & Sales 2017 Santa Clara County Annual Real Estate Report Santa Clara County Year Sales Median Average SP/LP DOI Sales Med Ave 2005 15,281 $ 739,000 $ 897,788 1.0% 123 2006 11,843 $ 773,000 $ 940,731 0.1% 81-22.5% 4.6% 4.8% 2007 9,165 $ 838,000 $ 1,044,150 0.0% 190-22.6% 8.4% 11.0% 2008 9,120 $ 660,000 $ 837,184 98.5% 216-0.5% -21.2% -19.8% 2009 11,878 $ 525,000 $ 660,573 99.9% 99 30.2% -20.5% -21.1% 20 11,382 $ 596,000 $ 746,716 0.1% 117-4.2% 13.5% 13.0% 2011 11,175 $ 567,000 $ 741,134 99.2% 76-1.8% -4.9% -0.7% 2012 11,990 $ 640,000 $ 833,954 1.5% 34 7.3% 12.9% 12.5% 2013,981 $ 780,000 $ 993,306 4.1% 32-8.4% 21.9% 19.1% 2014,230 $ 855,000 $ 1,120,7 4.1% 18-6.8% 9.6% 12.8% 2015,574 $ 950,000 $ 1,246,600 5.2% 21 3.4% 11.1% 11.2% 2016,001 $ 1,020,000 $ 1,284,700 2.8% 18-5.4% 7.4% 3.1% 2017,327 $ 1,175,000 $ 1,446,320 6.0% 3.3% 15.2% 12.6% 16,000 11,000 6,000 1,000 Santa Clara County Condos - & Sales $900 7,000 5,000 3,000 1,000 Santa Clara County Year Sales Median Average SP/LP DOI Sales Med Ave 2005 6,501 $ 475,000 $ 499,984 1.5% 1 2006 5,156 $ 500,000 $ 525,424 0.1% 68-20.7% 5.3% 5.1% 2007 3,851 $ 529,888 $ 557,164 99.6% 149-25.3% 6.0% 6.0% 2008 2,913 $ 435,000 $ 472,039 97.9% 235-24.4% -17.9% -15.3% 2009 3,943 $ 320,000 $ 363,951 99.5% 116 35.4% -26.4% -22.9% 20 3,956 $ 345,000 $ 382,319 99.7% 150 0.3% 7.8% 5.0% 2011 4,393 $ 300,000 $ 355,619 99.0% 73 11.0% -13.0% -7.0% 2012 4,517 $ 365,000 $ 414,8 2.1% 27 2.8% 21.7% 16.4% 2013 4,754 $ 477,000 $ 520,9 4.8% 24 5.2% 30.7% 25.8% 2014 4,462 $ 530,000 $ 583,557 3.3% 8-6.1% 11.1% 12.0% 2015 4,240 $ 6,000 $ 668,555 5.8% 12-5.0% 15.1% 14.6% 2016 4,218 $ 660,000 $ 730,128 3.6% 14-0.5% 8.2% 9.2% 2017 4,156 $ 730,000 $ 802,880 5.8% 2-1.5%.6%.0%
Campbell Homes - & Sales $1,500 2017 Santa Clara County Annual Real Estate Report Campbell 2005 8 $ 798,825 $ 736,944 0.4% 22 2006 288 $ 828,778 $ 777,000 99.6% 28 166.7% 3.7% 5.4% 2007 286 $ 856,076 $ 800,000 99.2% 41-0.7% 3.3% 3.0% 2008 190 $ 798,025 $ 759,000 97.4% 54-33.6% -6.8% -5.1% 2009 237 $ 700,641 $ 670,000 97.1% 68 24.7% -12.2% -11.7% 20 245 $ 7,399 $ 675,000 98.7% 61 3.4% 1.4% 0.7% 2011 252 $ 705,053 $ 670,000 98.1% 70 2.9% -0.8% -0.7% 2012 320 $ 738,462 $ 700,500 0.4% 43 27.0% 4.7% 4.6% 2013 282 $ 816,500 $ 881,456 3.6% 25-11.9%.6% 25.8% 2014 281 $ 945,000 $ 1,008,6 5.3% 19-0.4% 15.7% 14.4% 2015 266 $ 1,082,250 $ 1,149,520 6.4% 18-5.3% 14.5% 14.0% 2016 288 $ 1,231,430 $ 1,162,500 2.8% 25 8.3% 13.8% 1.1% 2017 358 $ 1,404,5 $ 1,337,400 7.5% 19 24.3% 14.1% 15.0% 4 $1,300 $900 3 2 1 Campbell Condos - & Sales $900 2 160 1 60 Campbell Year Sales Average Median SP/LP DOM Column Column Column 2005 91 $ 552,485 $ 549,950 1.0% 21 2006 188 $ 536,294 $ 528,000 99.8% 27 6.6% -2.9% -4.0% 2007 174 $ 563,685 $ 547,000 99.1% 40-7.4% 5.1% 3.6% 2008 9 $ 507,411 $ 5,000 97.7% 67-37.4% -.0% -6.8% 2009 2 $ 446,695 $ 450,000 98.0% 84-6.4% -12.0% -11.8% 20 124 $ 430,068 $ 427,500 98.0% 69 21.6% -3.7% -5.0% 2011 123 $ 403,406 $ 395,000 97.0% 84-0.8% -6.2% -7.6% 2012 151 $ 414,218 $ 395,000 1.0% 56 22.8% 2.7% 0.0% 2013 150 $ 520,709 $ 523,000 5.0% 19-0.7% 25.7% 32.4% 2014 149 $ 604,606 $ 600,000 3.0% 23-0.7% 16.1% 14.7% 2015 149 $ 703,147 $ 716,000 6.0% 16 0.0% 16.3% 19.3% 2016 127 $ 724,280 $ 735,000 3.3% 21-14.8% 3.0% 2.7% 2017 117 $ 822,156 $ 830,000 6.1% 15-7.9% 13.5% 12.9%
Cupertino 2005 173 $ 1,9,7 $ 1,020,690 0.7% 21 2006 384 $ 1,166,750 $ 1,1,500 0.8% 22 122.0% 5.1% 7.9% 2007 414 $ 1,281,250 $ 1,194,5 2.2% 27 7.8% 9.8% 8.4% 2008 292 $ 1,232,649 $ 1,187,500 99.5% 30-29.5% -3.8% -0.6% 2009 324 $ 1,121,641 $ 1,070,500 96.7% 62 11.0% -9.0% -9.9% 20 391 $ 1,112,847 $ 1,077,850 99.3% 41 20.7% -0.8% 0.7% 2011 346 $ 1,142,256 $ 1,115,000 99.7% 39-11.5% 2.6% 3.4% 2012 347 $ 1,252,051 $ 1,250,000 2.7% 32 0.3% 9.6% 12.1% 2013 305 $ 1,488,657 $ 1,425,000 6.1% 18-12.1% 18.9% 14.0% 2014 289 $ 1,725,888 $ 1,680,000 9.0% 19-5.2% 15.9% 17.9% 2015 268 $ 1,907,468 $ 1,845,000 9.0% 21-7.3%.5% 9.8% 2016 238 $ 1,981,640 $ 1,880,000 4.6% 19-11.2% 3.9% 1.9% 2017 230 $ 2,127,260 $ 2,0,000 9.9% 16-3.4% 7.3% 11.7% Cupertino Homes- & Sales $2,600 5 $2,0 4 3 2 1 Cupertino Condos- & Sales 2 160 1 60 Cupertino 2005 51 $ 679,676 $ 630,000 0.5% 20 2006 156 $ 690,922 $ 669,006 0.3% 23 205.9% 1.7% 6.2% 2007 165 $ 701,775 $ 656,000 0.7% 28 5.8% 1.6% -1.9% 2008 5 $ 735,864 $ 690,000 99.4% 26-36.4% 4.9% 5.2% 2009 85 $ 682,317 $ 655,000 97.0% 56-19.0% -7.3% -5.1% 20 117 $ 640,878 $ 625,000 98.7% 57 37.6% -6.1% -4.6% 2011 111 $ 676,668 $ 675,000 99.5% 46-5.1% 5.6% 8.0% 2012 4 $ 672,457 $ 627,500 1.9% 24-6.3% -0.6% -7.0% 2013 119 $ 799,890 $ 760,000 7.1% 16 14.4% 19.0% 21.1% 2014 98 $ 920,699 $ 895,500 7.0% 18-17.6% 15.1% 17.8% 2015 91 $ 1,064,333 $ 998,888 111.0% 16-7.1% 15.6% 11.5% 2016 95 $ 1,135,590 $ 1,128,000 5.0% 26 4.4% 6.7% 12.9% 2017 88 $ 1,246,7 $ 1,200,000 9.9% 14-7.4% 9.8% 6.4%
Gilroy Homes - & Sales $900 2017 Santa Clara County Annual Real Estate Report Gilroy 2005 266 $ 793,528 $ 7,000 0.1% 27 2006 545 $ 798,126 $ 720,000 99.4% 43 4.9% 0.6% 1.4% 2007 297 $ 795,623 $ 705,000 97.9% 80-45.5% -0.3% -2.1% 2008 495 $ 513,913 $ 453,000 96.3% 79 66.7% -35.4% -35.7% 2009 696 $ 419,228 $ 375,000 98.9% 98 40.6% -18.4% -17.2% 20 517 $ 447,748 $ 405,000 99.6% 72-25.7% 6.8% 8.0% 2011 587 $ 435,594 $ 390,000 98.3% 92 13.5% -2.7% -3.7% 2012 617 $ 447,018 $ 406,000 99.4% 69 5.1% 2.6% 4.1% 2013 5 $ 592,251 $ 525,000 99.7% 45-17.3% 32.5% 29.3% 2014 489 $ 644,788 $ 585,000 99.0% 47-4.1% 8.9% 11.4% 2015 565 $ 700,857 $ 631,000 0.0% 41 15.5% 8.7% 7.9% 2016 581 $ 728,507 $ 669,800 99.8% 42 2.8% 3.9% 6.1% 2017 618 $ 776,3 $ 705,000 0.4% 33 6.4% 6.5% 5.3% 8 6 4 2 Gilroy Condos- & Sales 70 $400 $200 50 30 Gilroy 2005 25 $ 398,080 $ 390,000 1.7% 21 2006 53 $ 401,867 $ 372,500 99.9% 58 112.0% 1.0% -4.5% 2007 18 $ 426,815 $ 417,500 98.9% 2-66.0% 6.2% 12.1% 2008 15 $ 262,567 $ 265,000 95.3% 83-16.7% -38.5% -36.5% 2009 60 $ 185,070 $ 181,500 97.9% 120 300.0% -29.5% -31.5% 20 32 $ 185,970 $ 186,000 0.9% 53-46.7% 0.5% 2.5% 2011 31 $ 183,300 $ 187,000 98.3% 88-3.1% -1.4% 0.5% 2012 38 $ 183,197 $ 186,950 0.8% 76 22.6% -0.1% 0.0% 2013 54 $ 280,488 $ 275,250 2.1% 88 42.1% 53.1% 47.2% 2014 30 $ 335,0 $ 363,500 0.0% 27-44.4% 19.5% 32.1% 2015 34 $ 357,452 $ 352,500 0.0% 32 13.3% 6.7% -3.0% 2016 28 $ 411,689 $ 422,750 2.1% 31-17.6% 15.2% 19.9% 2017 25 $ 420,824 $ 449,600 1.3% 37 -.7% 2.2% 6.4%
Los Altos 2005 143 $ 1,687,890 $ 1,585,000 0.1% 24 2006 353 $ 1,782,880 $ 1,621,000 0.3% 25 146.9% 5.6% 2.3% 2007 324 $ 1,880,5 $ 1,749,000 2.8% 29-8.2% 5.5% 7.9% 2008 252 $ 1,960,647 $ 1,797,500 99.3% 28-22.2% 4.3% 2.8% 2009 269 $ 1,654,914 $ 1,5,000 95.4% 65 6.7% -15.6% -16.0% 20 334 $ 1,688,322 $ 1,550,000 97.3% 54 24.2% 2.0% 2.6% 2011 307 $ 1,769,435 $ 1,647,500 98.4% 39-8.1% 4.8% 6.3% 2012 365 $ 1,975,216 $ 1,825,000 2.1% 31 18.9% 11.6%.8% 2013 323 $ 2,161,519 $ 2,0,000 5.6% 22-11.5% 9.4% 15.1% 2014 292 $ 2,536,402 $ 2,370,000 111.0% 16-9.6% 17.3% 12.9% 2015 309 $ 2,952,859 $ 2,750,000 1.0% 16 5.8% 16.4% 16.0% 2016 252 $ 2,852,1 $ 2,705,000 4.5% 21-18.4% -3.4% -1.6% 2017 323 $ 3,262,470 $ 3,0,000 7.2% 17 28.2% 14.4% 11.3% Los Altos Homes - & Sales $4,0 4 $3,0 $2,0 3 2 1 Los Altos Condos- & Sales $2,0 90 70 50 30 Los Altos 2005 21 $ 751,262 $ 747,000 0.4% 23 2006 62 $ 769,576 $ 696,250 99.8% 28 195.2% 2.4% -6.8% 2007 54 $ 904,119 $ 889,000 1.0% 24-12.9% 17.5% 27.7% 2008 33 $ 852,121 $ 864,000 99.0% 29-38.9% -5.8% -2.8% 2009 39 $ 746,702 $ 760,000 95.0% 79 18.2% -12.4% -12.0% 20 41 $ 736,438 $ 760,000 95.8% 2 5.1% -1.4% 0.0% 2011 50 $ 8,094 $ 792,500 98.0% 53 22.0%.0% 4.3% 2012 46 $ 874,083 $ 864,500 1.0% 33-8.0% 7.9% 9.1% 2013 68 $ 1,044,142 $ 952,000 5.4% 14 47.8% 19.5%.1% 2014 43 $ 1,329,290 $ 1,200,000 6.0% 21-36.8% 27.3% 26.1% 2015 43 $ 1,386,967 $ 1,421,000 7.0% 21 0.0% 4.3% 18.4% 2016 68 $ 1,503,050 $ 1,425,500 1.7% 17 58.1% 8.4% 0.3% 2017 46 $ 1,640,840 $ 1,565,000 5.0% 20-32.4% 9.2% 9.8%
Los Altos Hills 2005 39 $ 2,789,040 $ 2,395,000 96.8% 67 2006 96 $ 2,745,090 $ 2,405,400 96.4% 51 146.2% -1.6% 0.4% 2007 96 $ 3,028,270 $ 2,575,000 96.6% 75 0.0%.3% 7.1% 2008 61 $ 2,889,133 $ 2,420,000 95.1% 86 0.0%.3% 7.1% 2009 68 $ 2,614,368 $ 2,435,000 94.5% 98 11.5% -9.5% 0.6% 20 81 $ 2,590,416 $ 2,315,000 93.4% 120 19.1% -0.9% -4.9% 2011 99 $ 2,705,218 $ 2,300,000 94.5% 82 22.2% 4.4% -0.6% 2012 113 $ 2,916,770 $ 2,600,000 97.1% 81 14.1% 7.8% 13.0% 2013 114 $ 3,069,500 $ 2,796,500 98.4% 63 0.9% 5.2% 7.6% 2014 90 $ 3,498,817 $ 3,250,000 3.0% 42-21.1% 14.0% 16.2% 2015 94 $ 4,370,163 $ 3,612,500 5.0% 32 4.4% 24.9% 11.2% 2016 93 $ 4,434,090 $ 3,850,000 98.3% 47-1.1% 1.5% 6.6% 2017 92 $ 4,449,680 $ 3,790,000 2.0% 34-1.1% 0.4% -1.6% Los Altos Hills Homes - & Sales $5,0 160 $4,0 $3,0 $2,0 1 60 Monte Sereno Homes - & Sales $4,0 70 $3,0 $2,0 50 30 Morgan Hill 2005 195 $ 881,969 $ 802,500 99.3% 29 2006 416 $ 945,000 $ 856,500 98.3% 49 113.3% 7.1% 6.7% 2007 348 $ 902,493 $ 843,250 97.7% 69-16.3% -4.5% -1.5% 2008 290 $ 743,303 $ 682,500 95.6% 91-16.7% -17.6% -19.1% 2009 428 $ 606,986 $ 550,000 96.7% 123 47.6% -18.3% -19.4% 20 407 $ 634,581 $ 590,000 98.1% 82-4.9% 4.5% 7.3% 2011 424 $ 597,378 $ 520,000 97.1% 96 4.2% -5.9% -11.9% 2012 515 $ 616,151 $ 566,000 98.3% 73 21.5% 3.1% 8.8% 2013 456 $ 722,419 $ 689,950 0.0% 50-11.5% 17.2% 21.9% 2014 489 $ 805,346 $ 742,000 99.0% 44 7.2% 11.5% 7.5% 2015 484 $ 908,329 $ 820,000 0.0% 40-1.0% 12.8%.5% 2016 462 $ 949,615 $ 859,000 99.7% 39-4.5% 4.5% 4.8% 2017 527 $ 992,465 $ 920,000 0.5% 33 14.1% 4.5% 7.1%
Los Gatos Homes - & Sales $2,600 2017 Santa Clara County Annual Real Estate Report Los Gatos 2005 136 $ 1,346,330 $ 1,240,000 98.1% 28 2006 299 $ 1,495,4 $ 1,355,000 98.7% 32 119.9% 11.1% 9.3% 2007 308 $ 1,624,290 $ 1,450,000 98.6% 39 3.0% 8.6% 7.0% 2008 262 $ 1,616,054 $ 1,360,000 96.4% 43-14.9% -0.5% -6.2% 2009 268 $ 1,239,990 $ 1,150,000 95.4% 90 2.3% -23.3% -15.4% 20 330 $ 1,321,628 $ 1,175,000 96.4% 76 23.1% 6.6% 2.2% 2011 329 $ 1,390,203 $ 1,250,000 95.0% 77-0.3% 5.2% 6.4% 2012 375 $ 1,535,5 $ 1,303,500 97.2% 52 14.0%.4% 4.3% 2013 354 $ 1,480,000 $ 1,621,650 0.6% 35-5.6% -3.6% 24.4% 2014 352 $ 1,702,500 $ 1,886,900 1.0% 40-0.6% 15.0% 16.4% 2015 476 $ 1,672,500 $ 1,844,050 0.7% 32 35.2% -1.8% -2.3% 2016 416 $ 1,809,630 $ 1,566,500 99.4% 45-12.6% 8.2% -15.1% 2017 468 $ 2,030,880 $ 1,857,500 1.2% 34 12.5% 12.2% 18.6% 5 $2,0 4 3 2 1 Los Gatos Condos- & Sales 160 1 60 Los Gatos 2005 52 $ 664,408 $ 635,000 0.6% 22 2006 113 $ 675,868 $ 650,000 98.9% 35 117.3% 1.7% 2.4% 2007 115 $ 741,004 $ 740,000 99.3% 43 1.8% 9.6% 13.8% 2008 67 $ 725,351 $ 725,000 97.9% 50-41.7% -2.1% -2.0% 2009 81 $ 629,955 $ 640,000 97.5% 123 20.9% -13.2% -11.7% 20 95 $ 590,434 $ 611,000 97.2% 6 17.3% -6.3% -4.5% 2011 98 $ 579,934 $ 585,000 97.6% 91 3.2% -1.8% -4.3% 2012 143 $ 637,122 $ 650,000 98.8% 69 45.9% 9.9% 11.1% 2013 119 $ 696,637 $ 705,000 2.1% 23-16.8% 9.3% 8.5% 2014 126 $ 839,580 $ 840,000 2.0% 24 5.9% 20.5% 19.1% 2015 114 $ 925,283 $ 967,500 4.0% 18-9.5%.2% 15.2% 2016 92 $ 1,042,140 $ 1,048,500 2.2% 23-19.3% 12.6% 8.4% 2017 4 $ 1,066,290 $ 1,0,750 3.6% 22 13.0% 2.3% 5.0%
Milpitas 2005 197 $ 723,158 $ 695,000 1.6% 22 2006 411 $ 754,898 $ 7,000 99.8% 30 8.6% 4.4% 2.2% 2007 272 $ 735,069 $ 690,500 98.9% 40-33.8% -2.6% -2.7% 2008 254 $ 583,880 $ 550,000 97.4% 53-6.6% -20.6% -20.3% 2009 354 $ 516,305 $ 460,000 99.8% 76 39.4% -11.6% -16.4% 20 370 $ 541,571 $ 500,000 99.8% 61 4.5% 4.9% 8.7% 2011 332 $ 521,592 $ 470,000 98.8% 70 -.3% -3.7% -6.0% 2012 369 $ 590,128 $ 530,000 99.8% 55 11.1% 13.1% 12.8% 2013 327 $ 702,359 $ 672,000 3.2% 28-11.4% 19.0% 26.8% 2014 295 $ 763,531 $ 715,000 3.0% 25-9.8% 8.7% 6.4% 2015 321 $ 893,851 $ 842,000 5.0% 29 8.8% 17.1% 17.8% 2016 339 $ 932,295 $ 873,000 3.5% 22 5.6% 4.3% 3.7% 2017 274 $ 1,044,260 $ 995,000 8.2% 17-19.2% 12.0% 14.0% Milpitas Homes - & Sales $900 5 4 3 2 1 Milpitas Condos- & Sales $900 260 2 160 1 60 Milpitas 2005 85 $ 537,246 $ 550,000 1.6% 24 2006 175 $ 524,882 $ 520,000 99.9% 32 5.9% -2.3% -5.5% 2007 129 $ 539,122 $ 546,000 98.8% 38-26.3% 2.7% 5.0% 2008 81 $ 456,384 $ 475,000 97.0% 59-37.2% -15.3% -13.0% 2009 129 $ 325,988 $ 280,000 99.4% 84 59.3% -28.6% -41.1% 20 166 $ 334,316 $ 343,750 99.3% 80 28.7% 2.6% 22.8% 2011 192 $ 302,271 $ 282,000 98.4% 86 15.7% -9.6% -18.0% 2012 192 $ 319,166 $ 317,500 3.1% 64 0.0% 5.6% 12.6% 2013 198 $ 467,492 $ 460,000 4.4% 26 3.1% 46.5% 44.9% 2014 211 $ 547,478 $ 550,000 2.0% 28 6.6% 17.1% 19.6% 2015 191 $ 604,116 $ 600,000 4.0% 22-9.5%.3% 9.1% 2016 180 $ 654,751 $ 665,750 4.0% 21-5.8% 8.4% 11.0% 2017 180 $ 758,487 $ 790,000 4.8% 19 0.0% 15.8% 18.7%
Morgan Hill Homes- & Sales 2017 Santa Clara County Annual Real Estate Report Monte Sereno 2005 21 $ 1,884,090 $ 1,800,000 97.6% 26 2006 40 $ 2,028,0 $ 1,875,000 97.8% 38 90.5% 7.6% 4.2% 2007 36 $ 2,192,170 $ 2,024,980 97.5% 46 -.0% 8.1% 8.0% 2008 31 $ 2,240,774 $ 1,860,000 94.5% 66-13.9% 2.2% -8.1% 2009 27 $ 1,909,684 $ 1,699,000 94.0% 120-12.9% -14.8% -8.7% 20 38 $ 2,160,031 $ 1,817,500 92.1% 111 40.7% 13.1% 7.0% 2011 25 $ 1,722,729 $ 1,660,741 94.6% 4-34.2% -20.2% -8.6% 2012 32 $ 2,031,453 $ 1,890,000 96.9% 91 28.0% 17.9% 13.8% 2013 55 $ 2,220,216 $ 1,980,000 98.8% 29 71.9% 9.3% 4.8% 2014 50 $ 2,611,569 $ 2,345,732 0.0% 33-9.1% 17.6% 18.5% 2015 59 $ 2,953,563 $ 2,775,000 0.0% 49 18.0% 13.1% 18.3% 2016 33 $ 2,860,730 $ 2,500,000 98.2% 38-44.1% -3.1% -9.9% 2017 45 $ 2,989,530 $ 2,917,500 97.9% 46 36.4% 4.5% 16.7% 6 $900 4 2 Morgan Hill Condos- & Sales 1 90 70 50 30
Mountain View 2005 146 $ 932,039 $ 870,000 3.1% 18 2006 318 $ 990,795 $ 9,500 1.2% 23 117.8% 6.3% 4.7% 2007 271 $ 1,085,900 $ 1,060,000 3.5% 19-14.8% 9.6% 16.4% 2008 235 $ 1,067,009 $ 982,000 0.0% 27-13.3% -1.7% -7.4% 2009 254 $ 946,438 $ 874,840 97.5% 62 8.1% -11.3% -.9% 20 300 $ 956,709 $ 902,500 99.6% 43 18.1% 1.1% 3.2% 2011 281 $ 1,002,662 $ 965,000 0.6% 37-6.3% 4.8% 6.9% 2012 325 $ 1,128,912 $ 1,0,000 4.5% 22 15.7% 12.6% 14.0% 2013 280 $ 1,346,474 $ 1,275,000 7.9% 18-13.8% 19.3% 15.9% 2014 232 $ 1,504,320 $ 1,467,500 111.0% 20-17.1% 11.7% 15.1% 2015 253 $ 1,774,932 $ 1,700,000 112.0% 17 9.1% 18.0% 15.8% 2016 235 $ 1,840,330 $ 1,745,000 6.7% 18-7.1% 3.7% 2.6% 2017 228 $ 2,057,470 $ 1,989,940 1.5% 15-3.0% 11.8% 14.0% Mountain View Homes- & Sales $2,600 4 $2,0 3 2 1 Mountain View Condos- & Sales 5 4 3 2 1 Mountain View 2005 211 $ 566,451 $ 541,000 2.8% 18 2006 434 $ 563,953 $ 559,500 0.7% 24 5.7% -0.4% 3.4% 2007 356 $ 601,603 $ 606,500 1.5% 25-18.0% 6.7% 8.4% 2008 262 $ 587,7 $ 596,150 98.7% 40-26.4% -2.3% -1.7% 2009 287 $ 538,987 $ 540,000 97.7% 65 9.5% -8.3% -9.4% 20 268 $ 539,266 $ 549,500 98.8% 55-6.6% 0.1% 1.8% 2011 290 $ 484,307 $ 470,000 98.6% 69 8.2% -.2% -14.5% 2012 340 $ 589,060 $ 612,500 3.3% 34 17.2% 21.6% 30.3% 2013 356 $ 653,350 $ 650,000 8.1% 15 4.7%.9% 6.1% 2014 293 $ 792,429 $ 779,0 8.0% 15-17.7% 21.3% 19.9% 2015 294 $ 942,612 $ 905,000 115.0% 14 0.3% 19.0% 16.2% 2016 322 $ 1,046,7 $ 1,050,000 7.3% 19 9.5% 11.0% 16.0% 2017 3 $ 1,119,690 $ 1,148,000 1.0% 13-3.7% 7.0% 9.3%
Palo Alto 2005 185 $ 1,488,740 $ 1,250,000 3.4% 24 2006 517 $ 1,515,830 $ 1,340,000 3.1% 24 179.5% 1.8% 7.2% 2007 465 $ 1,870,640 $ 1,552,0 6.4% 24 -.1% 23.4% 15.8% 2008 356 $ 1,760,925 $ 1,550,000 0.6% 26-23.4% -5.9% -0.1% 2009 387 $ 1,516,480 $ 1,334,500 97.8% 50 8.7% -13.9% -13.9% 20 443 $ 1,557,004 $ 1,385,000 0.1% 44 14.5% 2.7% 3.8% 2011 452 $ 1,722,006 $ 1,431,500 2.5% 32 2.0%.6% 3.4% 2012 478 $ 2,009,780 $ 1,727,500 4.8% 23 5.8% 16.7% 20.7% 2013 406 $ 2,362,424 $ 2,0,000 8.6% 17-15.1% 17.5% 21.6% 2014 357 $ 2,705,599 $ 2,4,000 114.0% 16-12.1% 14.5% 14.8% 2015 325 $ 3,137,741 $ 2,699,000 112.0% 18-9.0% 16.0% 12.0% 2016 354 $ 2,941,7 $ 2,540,000 4.2% 23 8.9% -6.2% -5.9% 2017 337 $ 3,543,770 $ 3,000,000 7.9% 20-4.8% 20.5% 18.1% Palo Alto Homes- & Sales $4,0 6 $3,0 $2,0 4 2 Palo Alto Condos - & Sales $2,0 160 1 60 Palo Alto 2005 63 $ 651,944 $ 6,000 2.4% 24 2006 144 $ 745,148 $ 675,500 0.6% 28 128.6% 14.3%.7% 2007 127 $ 816,744 $ 760,000 2.1% 25-11.8% 9.6% 12.5% 2008 3 $ 865,040 $ 801,000 99.8% 30-18.9% 5.9% 5.4% 2009 85 $ 768,583 $ 675,000 96.3% 61-17.5% -11.2% -15.7% 20 124 $ 778,745 $ 717,500 98.3% 61 45.9% 1.3% 6.3% 2011 142 $ 776,807 $ 760,000 99.1% 57 14.5% -0.2% 5.9% 2012 147 $ 916,456 $ 890,000 3.2% 25 3.5% 18.0% 17.1% 2013 112 $ 1,011,236 $ 947,500 5.9% 23-23.8%.3% 6.5% 2014 8 $ 1,248,082 $ 1,250,000 112.0% 15-3.6% 23.4% 31.9% 2015 85 $ 1,490,334 $ 1,458,888 9.0% 20-21.3% 19.4% 16.7% 2016 0 $ 1,502,320 $ 1,505,000 4.5% 23 17.6% 0.8% 3.2% 2017 86 $ 1,571,420 $ 1,5,000 9.0% 18-14.0% 4.6% 0.3%
San Jose 2005 3,119 $ 754,902 $ 690,000 1.1% 23 2006 6,525 $ 787,913 $ 715,000 0.0% 31 9.2% 4.4% 3.6% 2007 4,451 $ 823,847 $ 741,000 99.2% 44-31.8% 4.6% 3.6% 2008 5,083 $ 628,855 $ 560,000 98.6% 57 14.2% -23.7% -24.4% 2009 7,046 $ 506,205 $ 450,000 99.5% 86 38.6% -19.5% -19.6% 20 6,333 $ 564,663 $ 5,000 99.9% 62 -.1% 11.5% 13.3% 2011 6,182 $ 545,463 $ 482,000 98.8% 78-2.4% -3.4% -5.5% 2012 6,488 $ 603,981 $ 543,972 0.7% 54 4.9%.7% 12.9% 2013 5,990 $ 755,144 $ 693,000 2.9% 30-7.7% 25.0% 27.4% 2014 5,583 $ 842,228 $ 755,000 3.0% 30-6.8% 11.5% 8.9% 2015 5,797 $ 926,699 $ 835,000 4.0% 26 3.8%.0%.6% 2016 5,355 $ 984,837 $ 890,000 2.7% 25-7.6% 6.3% 6.6% 2017 5,386 $ 1,2,8 $ 1,000,000 5.8% 19 0.6% 12.0% 12.4% San Jose Homes - & Sales 9,000 7,000 5,000 3,000 1,000 San Jose Condos - & Sales 3,500 3,000 2,500 2,000 1,500 1,000 San Jose 2005 1,386 $ 474,888 $ 450,000 1.4% 23 2006 2,991 $ 489,898 $ 469,950 0.0% 33 115.8% 3.2% 4.4% 2007 2,002 $ 502,739 $ 485,000 99.0% 50-33.1% 2.6% 3.2% 2008 1,651 $ 380,592 $ 355,000 97.7% 63-17.5% -24.3% -26.8% 2009 2,416 $ 288,316 $ 250,000 99.3% 92 46.3% -24.2% -29.6% 20 2,371 $ 3,780 $ 280,000 99.7% 76-1.9% 7.8% 12.0% 2011 2,635 $ 283,329 $ 250,000 98.7% 90 11.1% -8.8% -.7% 2012 2,592 $ 329,448 $ 300,000 1.2% 58-1.6% 16.3% 20.0% 2013 2,639 $ 441,193 $ 420,000 3.6% 28 1.8% 33.9% 40.0% 2014 2,636 $ 485,523 $ 460,000 2.0% 31-0.1%.0% 9.5% 2015 2,557 $ 557,151 $ 530,000 4.0% 21-3.0% 14.8% 15.2% 2016 2,436 $ 596,473 $ 575,000 2.8% 22-4.7% 7.1% 8.5% 2017 2,434 $ 662,744 $ 635,000 4.4% 19-0.1% 11.1%.4%
Santa Clara 2005 275 $ 722,136 $ 705,000 1.8% 18 2006 568 $ 743,526 $ 717,500 0.5% 23 6.5% 3.0% 1.8% 2007 508 $ 782,209 $ 749,400 99.8% 31 -.6% 5.2% 4.4% 2008 456 $ 693,892 $ 650,000 97.8% 42 -.2% -11.3% -13.3% 2009 506 $ 600,789 $ 580,000 99.3% 74 11.0% -13.4% -.8% 20 517 $ 606,094 $ 580,000 99.3% 48 2.2% 0.9% 0.0% 2011 526 $ 599,678 $ 577,625 98.7% 61 1.7% -1.1% -0.4% 2012 591 $ 652,138 $ 626,000 2.2% 46 12.4% 8.7% 8.4% 2013 566 $ 777,646 $ 739,425 5.1% 20-4.2% 19.2% 18.1% 2014 540 $ 893,559 $ 847,000 6.0% 19-4.6% 14.9% 14.5% 2015 590 $ 1,019,237 $ 975,000 9.0% 18 9.3% 14.1% 15.1% 2016 505 $ 1,129,290 $ 1,075,000 5.5% 21-14.4%.8%.3% 2017 599 $ 1,302,930 $ 1,260,000 1.7% 13 18.6% 15.4% 17.2% Santa Clara Homes - & Sales 700 500 300 0 Santa Clara Condos - & Sales $900 500 400 300 200 0 Santa Clara 2005 162 $ 493,451 $ 484,950 1.4% 20 2006 398 $ 490,678 $ 455,000 99.9% 30 145.7% -0.6% -6.2% 2007 307 $ 507,832 $ 478,000 99.1% 40-22.9% 3.5% 5.1% 2008 213 $ 482,239 $ 435,000 97.4% 58-30.6% -5.0% -9.0% 2009 265 $ 411,531 $ 380,000 99.2% 78 24.4% -14.7% -12.6% 20 251 $ 395,894 $ 370,000 99.8% 66-5.3% -3.8% -2.6% 2011 305 $ 353,418 $ 315,000 98.7% 91 21.5% -.7% -14.9% 2012 345 $ 405,272 $ 375,000 2.4% 41 13.1% 14.7% 19.0% 2013 370 $ 498,896 $ 472,500 4.2% 22 7.2% 23.1% 26.0% 2014 323 $ 565,675 $ 538,000 4.0% 21-12.7% 13.4% 13.9% 2015 356 $ 676,496 $ 650,000 8.0% 17.2% 19.6% 20.8% 2016 338 $ 721,081 $ 695,000 4.6% 17-5.1% 6.6% 6.9% 2017 331 $ 809,360 $ 768,000 7.1% 14-2.1% 12.2%.5%
Saratoga 2005 115 $ 1,692,050 $ 1,505,000 98.4% 32 2006 318 $ 1,707,970 $ 1,550,000 98.5% 32 176.5% 0.9% 3.0% 2007 346 $ 1,852,780 $ 1,650,000 99.3% 44 8.8% 8.5% 6.5% 2008 237 $ 1,803,537 $ 1,650,000 97.4% 39-31.5% -2.7% 0.0% 2009 227 $ 1,557,682 $ 1,400,000 94.1% 97-4.2% -13.6% -15.2% 20 287 $ 1,646,386 $ 1,501,500 96.3% 66 26.4% 5.7% 7.3% 2011 275 $ 1,634,822 $ 1,480,000 96.2% 69-4.2% -0.7% -1.4% 2012 378 $ 1,770,940 $ 1,639,000 98.2% 66 37.5% 8.3%.7% 2013 328 $ 1,984,635 $ 1,821,500 99.8% 42-13.2% 12.1% 11.1% 2014 290 $ 2,233,380 $ 2,017,500 5.0% 35-11.6% 12.5%.8% 2015 327 $ 2,447,895 $ 2,300,000 4.0% 33 12.8% 9.6% 14.0% 2016 297 $ 2,500,330 $ 2,351,000 2.2% 37-9.2% 2.1% 2.2% 2017 291 $ 2,678,360 $ 2,500,000 4.8% 29-2.0% 7.1% 6.3% Saratoga Homes - & Sales $3,0 400 $2,0 300 200 0 Saratoga Condos - & Sales 70 50 30 Saratoga 2005 31 $ 707,714 $ 630,000 98.9% 32 2006 43 $ 713,671 $ 650,000 99.2% 29 38.7% 0.8% 3.2% 2007 47 $ 788,208 $ 644,000 99.1% 29 9.3%.4% -0.9% 2008 44 $ 742,982 $ 647,500 98.2% 49-6.4% -5.7% 0.5% 2009 18 $ 573,513 $ 572,000 95.5% 188-59.1% -22.8% -11.7% 20 34 $ 640,895 $ 612,500 98.9% 90 88.9% 11.7% 7.1% 2011 27 $ 684,499 $ 660,000 96.3% 95-20.6% 6.8% 7.8% 2012 44 $ 723,646 $ 625,360 0.4% 54 63.0% 5.7% -5.2% 2013 59 $ 774,969 $ 685,000 2.4% 27 34.1% 7.1% 9.5% 2014 37 $ 820,0 $ 768,000 5.0% 21-37.3% 5.8% 12.1% 2015 39 $ 1,073,496 $ 1,050,000 4.0% 23 5.4% 30.9% 36.7% 2016 48 $ 1,021,720 $ 925,000 2.3% 28 23.1% -4.8% -11.9% 2017 43 $ 1,247,540 $ 1,160,000 5.5% 16 -.4% 22.1% 25.4%
Sunnyvale Homes - & Sales $2,0 2017 Santa Clara County Annual Real Estate Report Sunnyvale 2005 325 $ 796,356 $ 775,000 2.2% 19 2006 620 $ 863,662 $ 836,500 1.3% 22 90.8% 8.5% 7.9% 2007 623 $ 917,962 $ 905,000 2.8% 23 0.5% 6.3% 8.2% 2008 551 $ 845,184 $ 865,000 99.7% 34-11.6% -7.9% -4.4% 2009 556 $ 714,442 $ 749,500 98.3% 61 0.9% -15.5% -13.4% 20 576 $ 760,772 $ 799,250 0.0% 46 3.6% 6.5% 6.6% 2011 565 $ 755,620 $ 785,000 99.6% 53-1.9% -0.7% -1.8% 2012 640 $ 838,456 $ 865,000 3.9% 29 13.3% 11.0%.2% 2013 591 $ 1,006,317 $ 1,022,500 9.1% 16-7.7% 20.0% 18.2% 2014 568 $ 1,176,188 $ 1,218,000 1.0% 16-3.9% 16.9% 19.1% 2015 603 $ 1,374,763 $ 1,400,000 112.0% 16 6.2% 16.9% 14.9% 2016 553 $ 1,455,870 $ 1,480,000 6.8% 17-8.3% 5.9% 5.7% 2017 551 $ 1,713,6 $ 1,735,000 113.8% 12-0.4% 17.7% 17.2% 700 500 300 0 Sunnyvale Condos- & Sales 500 400 300 200 0 Sunnyvale 2005 167 $ 557,733 $ 545,000 1.7% 19 2006 315 $ 563,705 $ 555,000 0.1% 24 88.6% 1.1% 1.8% 2007 314 $ 579,496 $ 573,975 0.1% 29-0.3% 2.8% 3.4% 2008 189 $ 545,636 $ 550,000 98.1% 46-39.8% -5.8% -4.2% 2009 254 $ 486,484 $ 495,000 98.3% 72 34.4% -.8% -.0% 20 209 $ 477,628 $ 475,000 98.5% 60-17.7% -1.8% -4.0% 2011 276 $ 447,885 $ 457,500 99.9% 85 32.1% -6.2% -3.7% 2012 315 $ 506,403 $ 518,000 2.5% 41 14.1% 13.1% 13.2% 2013 413 $ 631,692 $ 640,000 5.9% 15 31.1% 24.7% 23.6% 2014 345 $ 714,757 $ 745,000 6.0% 16-16.5% 13.1% 16.4% 2015 299 $ 859,280 $ 860,000 9.0% 15-13.3% 20.2% 15.4% 2016 305 $ 905,182 $ 9,000 6.4% 18 2.0% 5.3% 5.8% 2017 313 $ 1,067,220 $ 1,086,0 111.6% 2.6% 17.9% 19.4%